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Nissan ReviewsThe Nissan name was first used in 1933, but the company's history goes back much further. Originally known as Kwaishinsha Motorcar Works, the company produced its first automobile, the DAT, in 1914. DAT later became Datsun (son of DAT) in 1931 and Datsuns went on to become the first mass-produced vehicles in Japan. Americans got their first look at the Datsun in 1958 - the 1200 Sedan. The Datsun 240Z was released as a 1970 model and it became the best selling sports car in the world, selling 500,000 units in less than 10 years. |
A reader writes:
“Would you have any idea on the auction value of a low mileage 2007-2009 Toyota Tundra CrewMax Limited 4×4 5.7? I have been looking to upgrade from my current 2005 Tundra to one of the new ones but hate all of the new car dealer shenanigans. Thanks so much for your time and response. I really appreciate it.”
God I hate car awards—except for ours, of course. Nine times out of ten, the fix is in. The tenth time, the methodology is Claritin clear anti-matter. Well, at least ForbesAutos isn’t making those stupid “10 Best Cars in Which To Perform a Bris” lists anymore. Anyway, here’s KBB’s most recent contribution to the genre, which names Cadillac as the Best Comfort Food—I mean, brand. And Toyota scoops the award for Least Exciting Brand That Everyone Buys Anyway Probably Because It IS So Boring (i.e., Best Value Brand). Full list after you contemplate the ability of the English language to obfuscate while pretending to offer specificity.
The 2009 Brand Image Awards, presented to the top brands in 10 categories, are based on consumer automotive perception data from Kelley Blue Book Market Research’s Brand Watch study. Brand Watch is an online brand perception tracking study tapping into 12,000+ in-market new-vehicle shoppers annually on Kelley Blue Book’s kbb.com. The highly comprehensive Brand Watch report provides a detailed look at in-market new-vehicle shoppers’ perceptions of brands, and important factors driving their purchase decisions while they are in the midst of the shopping process. The results of an entire year of Brand Watch research and consumer opinions determine the 2009 Kelley Blue Book Brand Image Award winners.
Newbie TTAC registrant USLuxuryman entered this comment under the post Ford-UAW Deal Rejected By Two Locals. I’m republishing it here because I think it’s important for all of us to understand the fears, frustrations and general motivations of the workers at the sharp end. Now, if he could just walk away from that endless quiver of spears . . . . [NB: USLuxuryman is protected by TTAC’s no-flaming rule. Obviously.]
As an Auto Worker, instead of some hateful, biased, resentful outsider, let me help give you some perspective!
I work for Chrysler, but the ENTIRE AUTO INDUSTRY is in free-fall, and for a VARIETY of reasons! Those two Locals, or any others, have the RIGHT to say YES OR NO, just like you could vote for McCain or Obama! You have no say in that any more than I DO if you let your Police,Fire, and Teachers lose their jobs because you don’t wanna pay more in taxes!
if a Ballplayer turns down $45 Million, I can’t call him a fool, he is obviously in a different economic-bracket than you or me! These factors affecting our Economy were not caused by or controlled by the average Blue-Collar OR White-Collar worker in this or related industries!
The Big-Three didn’t MAKE you buy SUV’s and Pickups! AMERICA wanted these vehicles until the 4/Gal gas slaughter helped to KILL the economy! We DON’T make the decisions that put us in this shape, or put the Credit-markets, Housing-markets, or the economy overall in the shape that it is in today! We take direction from Management, just like most of you do on your jobs.
The General’s Chevrolet Malibu LS won this competition versus the Chrysler Sebring LX and Ford Fusion S because it’s a complete car with no manifest weaknesses. For less than $18K, I could have driven away from the Chevy dealership in the only vehicle capable of going head to head with the very best entry level cars in its class. In a prior competition, I compared the Honda Accord LX, Toyota Camry (base model), Nissan Altima 2.5 and Mazda Mazda6i Sport. Neither the dismally shameful Sebring nor the uninspired Fusion compares well to even the weakest of these Japanese models. On the other hand, this Malibu fully deserves serious consideration by cost conscious consumers.
4/5 Stars 
An overview of what happened in other parts of the world while you were in bed. TTAC provides round-the-clock coverage of everything that has wheels. Or has its wheels coming off. This column will be filed from Berlin until further notice – if & when time allows.
We are the German government, and we are here to help you, Opel: The German government is still waiting for Opel to hand in a solid business plan that could be the basis of financial assistance. What Opel has submitted so far has been found inadequate. Finance Minister Steinbrueck today put Opel on notice that without solid information there will be no money decision. Volker Kauder, head of the CDU faction said: “It looks like they need help to come up with a concept. We’ll help ’em.”
Saab? Volvo? Bu yao! Chinese automakers Dongfeng and Geely said that they have not held any talks over a possible bid for General Motors’ Saab brand, Gasgoo says. A Dongfeng spokesman as unaware of any interest by his company in bidding for the Saab brand. A senior Geely executive, when asked about his company’s possible acquisition of Saab or other brands, told reporters: “No, we did not. We’re not interested in Saab or the other brands out there.” Media reports have also said Geely was in preliminary talks with Ford Motor about the sale of the US automaker’s Volvo car unit. This was likewise denied by Geely. This comes on the heels of the Chinese government warning their automakers to buy overseas assets.
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An overview of what happened in other parts of the world while you were in bed. TTAC provides round-the-clock coverage of everything that has wheels. Or has its wheels coming off. This column will be filed from Berlin until further notice – if & when time allows.
Forster plays the—usual—jobs card: Opel will have to slim down its workforce, says GM Europe chief Carl-Peter Forster, “hopefully not more than 3,500 jobs.” That according to Automobilwoche [sub]. How many and where exactly is unclear—and will depend on how much money which government will fork over. Forster said in Geneva that Opel has surplus capacities of 30 percent.
Sumimasen, can you spare some billions? Japanese automakers are keeping up with the Joneses, or make that Tanakas: Japanese automakers are turning to government lending to secure operational funds, the Nikkei [sub] writes. Honda is considering borrowing from the Japan Bank for International Cooperation, Toyota is negotiating a five-year loan of about 200 billion yen, also from JBIC. Mitsubishi Motors has applied for a low-interest loan from the Development Bank of Japan. Honda intends to seek tens of billions of yen in dollar-denominated loans from JBIC for its US financing arm, American Honda Finance Corp. The carmaker aims to build up more cash for auto loans and leases. Toyota Financial Services Corp. has also approached JBIC to procure funds for its US financing unit, Toyota Motor Credit Corp. Nissan is double dipping—at the very least. They applied for a roughly 50 billion yen loan with the DBJ as well as a low-interest loan from the US government. It is also considering tapping JBIC loans.
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Moral relativism is inherently childish, as demonstrated by my eleven-year-old. “You don’t make Lola take her plate into the kitchen.” Any assertion that her sister’s age removes her from the obligation meets with a derisive snort. In fact, Sasha reckons she’s a victim of a cruel, capricious system. “It’s not fair!” she cries, storming off—until I threaten to yank her poker chip pay. Then, grudgingly, she does what needs doing. All of which reminds me of GM’s PR “narrative.” As their sales dip by half, they cry “Everyone’s sales numbers are a disaster! You can’t blame US for this mess.” And then they walk off and we clean up (i.e., pay for) their mess.
GM’s bondholders and union leaders “get it.” They know that GM lives in a world where actions don’t have consequences. No matter what The General does or doesn’t do, no matter what they build or don’t build, kindly Uncle Sam will keeping throwing them chips.
And who do you think scoops up those plastic pieces at the so-called bargaining table? Why the bondholders and union leaders, of course. When it comes to securing “their” stake, General Motors and its camp followers have learned that whining speaks louder than action.
“These are obviously unsustainable levels which are causing almost every major auto manufacturer across the world to look for government aid,” GM’s chief sales analyst Michael DiGiovanni said during a post-February sales numbers conference call.
See! Nobody else has to file bankruptcy! You want us to go C11? I hate you! I wish you were never born!
Plug your ears for a second and think about that. General Motors has just publicly admitted that they’re no longer a viable business. And no wonder.
When GM first suckled from the federal teat, their loan request was based on grabbing their “usual” share of an estimated seasonally adjusted annual sales rate (SAAR) of 11m vehicles. February’s SAAR clocked in at 9.8m. Oh, did you mean retail sales? That’s 7.5m. Nissan’s CEO figures SAAR will drop to 8.5m.
Bottom line: GM is too big to survive in such a small market, never mind the weakness of their products.
You could make a case that the precipitous sales drop was due to the unforeseeable collapse of the credit market. You could argue there was “no way” GM could have predicted these terrible times (although I won’t be joining you in that belief). But clearly, indisputably, GM should have known the way the winds were blowing back in December.
So how come GMNA’s Best and Brightest’s “worst case scenario” wasn’t even close to reality? Either GM management was woefully ignorant of their own business, or they were lying to Congress to minimize their [initial] call on the public purse.
After ten years charting this company’s course, watching as the crew plowed it straight into a killer iceberg (that a faltering economy has now revealed in all its terrible glory), I’d have to say GM’s misinformation was based on willful ignorance. And cowardice.
These are tough times. Times that try a man’s soul. What GM needs, what we all need, is true grit.
True grit refers to the character of a person who can look at their perilous situation without flinching, then devise a realistic plan to deal with it. Sometimes, the odds are insurmountable; even the best possible plan is doomed to failure. And then a person with real character does what has to be done; whatever they can do. No matter what the personal cost.
It’s no coincidence that The Alamo is one of John Wayne’s best-loved movies. It’s no coincidence that GM is bankrupt, without anything like a coherent plan to file for C11, reinvent itself and save what can be saved.
And here’s the missing puzzle piece: the aforementioned willingness to make a personal sacrifice.
Last year, at The New York Auto Show, I asked GM Car Czar Bob Lutz if his pension was bankruptcy-proof. I was really asking if he was personally committed to saving GM. Lutz’ derisive prevarication, followed by his recent retirement, answers that question once and for all.
In fact, GM’s management team are like a bunch of eleven-year-olds, willing to do most anything, blame anyone, to avoid accountability for the mess they’ve created. By the same token, they refuse to take responsibility for cleaning it up.
Unfortunately, it’s is no longer their problem. It’s ours. BUT, contrary to growing sentiment, it’s not our job to let management walk; take control and clean the god damn table ourselves.
GM is not our child. We can’t afford to feed it and take care of our own family. Nor should we let GM’s parents avoid responsibility for their own progeny. We’ve served them a hot meal. We’ve done more than our fair share. It’s time to show GM the door. Anything less is simply enabling and encouraging bad behavior.
Nissan’s sales, too, took a brutal pounding last month, with their trucks particularly leading the plunge. While the Versa held on (5045 this February compared to 5708 in Feb ’08), the Sentra fell 21% and the Altima took a header of 31.5%, falling to 16,002 from last February’s 23,363. The trucks were the true mess though, collectively down 51%. The Frontier collapsing from 4661 to 1617 in February (a 65.3% drop) and the Titan down to 1508 from 3794 (down 60.3%). The Xterra had a similar tragedy, from 3548 to 1105 units (−68.9%) and the Pathfinder, too, was down 60.2% to 1498 in February compared with 3765 in February 2008. The Rogue was a small bright spot, which actually was up a bit to 5500 sales, while the Murano fell from 10,074 to 4126 units. Infiniti limped along with gains from the new FX, but the crucial G sedan and coupe were down 47.5 and 45.7% respectively. That amounts to almost 2700 lost G sales versus last February. Ouch.
Toyota Financial Services has requested a $2B loan from the Japan Bank for International Cooperation, a government-backed lending institution. TFS says it needs the money to cover the higher cost of borrowing in the US. According to Automotive News [sub], “Toyota may be the first of a string of Japanese companies with high credit ratings to turn to state-backed loans prior to the closing of books for the business year at the end of March.” Toyota’s “implied” credit rating based on credit-default swaps is considerably lower than its current Moody’s rating, as fears grow about liquidity problems across the automotive industry. The money will come from a $5B fund established by the Japanese government to provide liquidity for firms which operate abroad. These funds are said to come from Japan’s $1T+ in foreign cash reserves, the world’s second-largest foreign currency reserves after China. Nissan and Mitsubishi have also said they will apply for loans from this fund.
Anyone remember the John Houseman ad for Smith Barney? “They make money the old-fashioned way. They UHN it.” Well, you can put that idea in an urn, at least when it comes to Washington State car dealers. Now that times are tough, the dealers have successfully lobbied (a euphemism if there ever was one) their state legislators to increase car dealers’ “document fees” from $50 to $150. Get ready to get ill, courtesy The News Tribune.
Such an increase could let auto dealers statewide pocket as much as $100 million to $150 million, money that would go straight to their bottom line. Those figures assume dealers will sell 1 million cars and trucks and that all dealers would charge the maximum fee allowed, as most do.
Sen. Tracey Eide, D-Federal Way, said she sponsored Senate Bill 5816 at the request of the Washington State Auto Dealers Association and its 328 dealerships, and one of her former constituents, Mary Byrne, former owner of Nissan of Fife. Byrne now is a partner in Advantage Nissan in Bremerton.
It gets worse.
An overview of what happened in other parts of the world while you were in bed. TTAC provides round-the-clock coverage of everything that has wheels. Or has its wheels coming off. This column will be filed from Berlin until further notice—if & when time allows.
Time is money: GM Europe is running out of both, Carl-Peter Forster said to today at the Geneva Autoshow, Automobilwoche [sub] reports. GM needs the requested €3.3B “as soon as possible” Forster said. He’s not counting on private investors: “Each discussion with a private investor takes months, half a year at least, and we don’t have that kind of time.” Foster also said that GM has “three plants too many” in Europe. German Economy Minister Karl-Theodor zu Guttenberg said today he will not be pressured into making a quick decision on granting state aid to General Motors’ Opel unit, Automotive News [sub] says. Germany is considering whether to support Opel after GM Europe unveiled a plan to spin off Opel and its UK sister brand Vauxhall to try to avert job cuts and plant closures.
Nissan is determined to sell electric cars in the US beginning in 2012, but the problem of building a charging infrastructure continues to bedevil product planners. Charging stations must be plentiful, convenient, and most importantly EV owners must be willing to wait there at least half an hour to complete a fast-charge of their EV’s batteries. Having added it all up and thrown in just a dash of condecension towards American culture (or lack thereof), Nissan’s boffins reckon that fast food joints are the perfect location for EV charging station, reports Automotive News [sub]. Of course the idea of sitting around a fast food joint for a half-hour while your car recharges for another 80 miles of driving kind of defeats the idea of fast food, but no matter.
Dear God, will no one pull the plug on this company? I know the Obama administration needs to wait until March 31st to appear as if they’ve fully contemplated all the options. But even for me, a professional General Motors Death Watcher, charting the final dissolution of what was once the world’s largest automaker has become a painful pursuit. The breakup of the global empire. The raiding of the pension fund. The kow-towing to politicians. Automotive News [sub] gives us a way-point, reminding us that GM’s epic cash conflagration is getting worse, not better.
In a conference call last week, CFO Ray Young said GM’s cash burn this year would be less than last year, which it put at $19.2 billion — but admitted the cash burn in 2009 would be “front-loaded.”
Translation: The short-term bleeding will continue. It will be hard in this quarter for GM to reduce its cash-burn much below the $5.2 billion consumed in the last three months of 2008.
All this while GM inventory piles up, everywhere. The post-jump run-down is sobering stuff. One hopes.
A call on Sunday to a lawyer’s office (mine) normally carries with it a tale of woe and unwanted police involvement. This time was different. A journalist neighbor called and asked if I wanted to drive the Nissan GT-R that had just been dropped in his driveway. The Skyline has been an unobtanium special for the last 15 or so years. I recall seeing one at International Rally New York, and even that battered right hand drive special attracted a crowd. So, with full knowledge of what was on offer, I ventured forth.
3/5 Stars 
This morning’s Automotive News [sub] carries a highly critical report on Toyota’s reaction to the worldwide automotive meltdown. The bottom line: the Japanese automaker is too damn slow and overly cautious. “Toyota Motor Corp. is famed for its advance planning, obsessive attention to ‘what if’ scenarios and continuous improvement,” Hans Greimel writes. “Yet with the market collapsing, the world’s top automaker is stunned to a near standstill by an astonishing plunge from record profits to record losses in 12 short months.” That’s quite a statement, especially as it seems to be based on a single analyst’s analysis. Greimel trots out JPMorgan’s Takaki Nakanishi, who complains that there’s “nothing remotely innovative” in ToMoCo’s recent plans to cut $5.11 billion in fixed costs by the end of the year. What, no feng shui?
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